Shares of Adani Energy Solutions surged nearly 10% on Thursday after the $1-billion qualified institutional placement (QIP) was oversubscribed six times, garnering a demand of over Rs 50,000 crore according to an ET report. The stock also hit a fresh 52-week high of Rs 1,250 on the NSE amid significant volume, when 1.27 crore shares … Read more
“So, we will have to wait and watch, but as things stand today, the commodity prices are under pressure, metal prices are under pressure, and we will have to wait and watch what happens. Again, I will repeat, it will to a great extent depend on what happens in China,” says Sudip Bandyopadhyay, Group Chairman, … Read more
Will Nifty cross 25,000 this week? Fed meeting & 5 other factors to watch out for Driven by positive US GDP data, expectations of improved global demand and unflinching faith of domestic investors, the stock market has recovered all its post-Budget losses to leave many market veterans surprised. Given Friday’s momentum, Sensex looks poised to … Read more
Besides macro factors and solid earnings growth, one of the biggest reasons behind higher valuation multiples on Dalal Street is the unflinching faith shown by domestic investors. But the valuation multiples can face headwinds if the domestic flows into equities slow down following rises in short- and long-term capital gains tax in the Union Budget, … Read more
Shares of Life Insurance Corp have delivered the highest returns among the top 10 companies by market capitalisation in the last one year period. The insurer, which is the only non-Sensex stock in this list, gained about 74% during the reporting period. LIC comfortably beat Reliance Industries Ltd (RIL) as the latter rallied only just … Read more
Gold ETFs saw an inflow for the second consecutive month in June of Rs 726.16 crore, according to the monthly data released by AMFI. The category saw an inflow of Rs 827.43 crore in May and an outflow of Rs 395.69 crore in April. In the first six months of 2024, the category received a … Read more
DHARMESH SHAH, HEAD OF TECHNICALS, ICICI SECURITIESWhere is Nifty headed this week?We expect Nifty to continue trade with a positive bias and gradually head towards 24,700 by July end. Higher peaks and troughs supported by market breadth signifies inherent strength (currently 86% of stocks are trading above 50-day EMAs), and the global setup continues to … Read more
Mumbai: Soft spoken, versatile and a people’s man are some of the adjectives current and former colleagues use to describe Challa Sreenivasulu Setty, the State Bank of India managing director who is set to take over as the lender’s 27th chairman at the end of August. The 59-year-old, who started his career as a probationary … Read more
Infrastructure and defence based mutual funds have dominated the returns chart in the first half of 2024, an analysis of the return charts showed. There were around 208 sectoral/thematic funds in the said period. The toppers in the list were from the infrastructure sector, defence sector and PSU sector. HDFC Defence Fund, the topper in … Read more
Mumbai: State Bank of India on Wednesday raised ₹10,000 crore through a sale of infrastructure bonds, with the lender’s first debt issuance of the current financial year witnessing firm demand from the investors. Separately, ICICI Bank is likely to carry out a sale of infrastructure bonds on June 28, with the private lender looking to … Read more
